Donald Trump's Scotland Golf Course Gives Him New Financial Headache
Former U.S. President Donald Trump during a round of golf at his Turnberry course on May 2, 2023 in Turnberry, Scotland. Trump’s golf course in Scotland may be causing the former president a financial headache, according to company filings released this month.
One of Donald Trump’s golf courses in Scotland may be causing him a financial headache, according to company filings released this month.
Although the former president’s sons, Donald Trump Jr. and Eric Trump, are listed as sole directors of Trump International Golf Club Scotland, the owner is still under The Donald J. Trump Revocable Trust.
According to company filings released this month, which detail the company’s financial profit and loss account for the financial year 2022, Trump International Golf Club Scotland lost more than $938,260 in 2022 after losing a reported $886,134 in 2021.
The filings show revenues came in nearly at $4.6 million in 2022, with more than $1.27 million in gross profit. However, the company was hit by more than $1.9 million in administrative expenses outweighing the profits.
Trump is facing four criminal cases in the U.S., including 91 felony charges, as he campaigns to retake the White House in 2024. He has also pleaded not guilty to all counts.
Newsweek has reached out to Trump’s spokesperson and Trump International Scotland via email for comment.
Trump International Scotland, which opened in 2012 and was built on about 2,000 acres of coastal land overlooking the North Sea, would be the “world’s greatest golf course,” Trump said. In May, a new 18-hole course, known as MacLeod for Trump’s mother, Mary Anne MacLeod, opened at the resort at the same location in Aberdeen to the south and west of the original one.
Additional company filings show accounts for the Trump-owned course are overdue as of a December 2023 statement. The next statement is expected in February.
Trump spent more than $300 million to purchase and develop Trump Turnberry in Ayrshire and Trump International Golf Links in Aberdeenshire, which combined lost more than $8 million in 2020, and $5.3 million in 2021, records show.
According to a New York Times report from 2020, the 15 courses the former president owns around the world lost more $315 million over 20 years. However, Trump’s FEC disclosures showed him earning as much as $555 million through his golf course assets between January 2022 and April 14, 2023, Sportico reported in 2023.
This is not the first time a Trump golf course has had financial trouble.
In November, Trump National Doral in Miami appeared to be struggling to attract customers, with discounts for tee times offered online. Financial filings made available in 2020 showed that Doral made a profit of $4.3 million on $75 million of revenue in 2017. Revenue fell to less than $45 million in 2020.
Some of Trump’s properties, such as Florida’s Mar-a-Lago, and other golf courses are part of a civil trial in New York after state Attorney General Letitia James’ office last year sued Trump, sons Don Jr. and Eric, and the Trump Organization, alleging that they fraudulently inflated their assets to get more favorable rates on bank loans. Closing arguments are scheduled for Thursday morning. In September, Judge Arthur Engoron, who is overseeing the case, concluded that they were liable for fraud.
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